Sidley boosts revenues by 11 per cent

Sidley Austin has become the latest US firm to reveal its global figures, reporting an 11 per cent boost in revenue for the 2007 financial year.

The firm today (11 February) announced global revenues of $1.386bn (£692m) for 2007 compared with $1.246bn (£652m) for 2006.

Average profit per equity partner rose 5.75 per cent from $1.305m (£652,000) in 2006 to $1.38m (£680,000) in 2007.

Last week, The Lawyer revealed Sidley’s London revenue figures, reporting a 12.4 per cent increase from £55.03m to £61.87m in 2007 (www.thelawyer.com, 5 February).

The firm is focusing on developing its funds practice in the London market, further aligning the firm’s capabilities in Europe to those in the US.

Earlier today, The Lawyer revealed that the firm had hired Covington & Burling tax partner, David Hinds, to bulk up its tax and funds capabilities in the capital.